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Sunday, March 13, 2011

Jim Tressel - I'd hate to be your compliance officer

If you are OSU's general counsel or compliance officer, are you getting love letters or hate mail? OhioStateUniversity football head coach Jim Tressel did not himself commit a direct violation of NAIC standards, but he has hurt his institution by putting his head in the sand.When he heard that some of his players were selling autographed program gear to a local tattoo shop for money and tattoos, he did . . . nothing!

Tressel has had a fine reputation for being an ethical coach in an industry with so much pressure to succeed that many succumb to sharp business practices. If ethics is doing the right thing when no one is looking, is Tressel's integrity in issue or just his judgment? Do you criticize OSU for overreacting . . . or for not putting Tressel on permanent suspension, or do you give OSU kudos for imposing a two-game suspension and a $250,000 fine?

"[A]t a time when there is still considerable outrage — although not many criminal indictments — about the misdeeds of bankers, mortgage lenders, business executives, government officials and other miscreants, shouldn’t high-visibility and highly paid coaches of public and taxpayer supported universities be held to a high standard of ethical conduct?" Jim Tressel, Ohio State and Ethical Standards.

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Any legal commentary provided through this profile is informational only, is not legal advice and does not establish an attorney-client relationship. Views expressed are those of Perry Cone or quoted sources and do not represent the views of my employer, its owners, affiliates, or management. Perry Cone is an in-house corporate counsel and does not provide legal services to the public.